Ethereum price climbs as Binance and FTX expands operations into UAE

The prominent crypto exchanges Binance and FTX have been approved by UAE authorities and regulators over the past week.

• The Bored Ape Yacht Club (BAYC) is currently airdropping, and each NFT owner can earn up to 10,000 APE tokens (equivalent to about AU $ 92,000).
• Former Diem tech leaders Mo Shaikh and Avery Ching were able to raise A $ 270 million for a new project called “Aptos.”
• The number of ETH stored on various centralized trading platforms has dropped to the lowest level since June 2020.

Ethereum, the world’s second-newest cryptocurrency by market capitalization, has been plagued by all the significant AU $ 4,000 (US $ 3,000) psychological barriers over the past 72 hours, and Altcoin is about to break out. It suggests that we may be preparing for it. That said, the price of digital assets closely tracks the entire crypto market, especially Bitcoin, so sudden decoupling is unlikely. At the time of press, ETH is trading at a price of AU $ 3,850.

Binance, one of the world’s largest cryptocurrency exchanges, surged when it revealed that it was able to secure a license called the Virtual Asset Service Provider (VASP) license. This allows the company to provide a variety of crypto-related services to local businesses as well as local ones. Earlier this week, Sam Bankman-Fried-led trading platform FTX also announced that it had received a regulatory green light from UAE authorities to begin operating cryptocurrencies in Dubai.

Another reason ETH could rise is that Bored Ape Yacht Club (BAYC) is now getting a large amount of ApeCoin (APE) (ERC-20 Governance and Utilities) for owners of various NFT products this week. Because he announced that he had a chance. Tokens — As part of future airdrops. Eligible participants can claim up to 10,000 APE within up to 90 days. This is equivalent to about US $ 72,000 (about AU $ 92,000).

Finally, Meta’s currently non-functional cryptocurrency, Diem, used a project called “Aptos” with former division heads Avery Ching and Mo Shaikh to secure US $ 200 million from Coinbase Ventures and Andreessen Horowitz. It was built. Move’, the native programming language of Diem.

How to buy Ethereum

CeFi exchange ETH balance plummeted to new lows

ETH tokens are leaving the centralized crypto exchange at a blazing pace, with Ethereum totaling across various CeFi trading platforms currently at its lowest level since September 2018, a long-term investor in altcoin. It shows that the trust of is increasing.

From a numerical point of view, since the beginning of 2022, a little over 550,000 ETH (about A $ 2.18 billion) of ETH has left the centralized trading platform and is reducing its total volume. Only 21.72 million tokens of ETH held by these exchanges. Looking at things, this number was a whopping 31.68 million ETH just 18 months ago.

NFTs are increasingly being used for donation purposes

Russia’s recent invasion of Ukraine has caused high levels of economic uncertainty and geopolitical tensions worldwide, and Ukrainian officials are reaching out to sympathizers for immediate financial relief. In all the madness, non-fungible tokens (NFTs) seem to have made their presence felt by helping to raise funds for Eastern European countries.

In this regard, Nadezhda Tolokonnikova, digital artist Trippy Labs, and artist group PleasrDAO (using Ukrainian DAO) Can sell over 10,000 NFTs Raise about $ 7 million to support the Ukrainian army.

Disclosure: The author owns various cryptocurrencies at the time of writing